The Swans would not have recruited superstar Lance Franklin had captain Jarrad McVeigh not approved in July of the club's blockbuster signing.

The Swans captain was sounded out on behalf of the club's leaders by the football department mid-season about the idea of recruiting Franklin and chief executive Andrew Ireland said if he had not given the move the green light the club would have abandoned its pursuit of the dual premiership star.

Jarrad McVeigh and Lance Franklin scrap for the ball during the 2011 finals. Photo: Pat Scala

Ireland indicated that the club had confined its discussion about the Franklin deal to just McVeigh rather than the entire leadership group for the sake of the secrecy needed to get the deal done.

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''About July, we did say to Lance that, whilst we wanted to keep it in a small group and we wouldn't take it to the full leadership group, we did want to speak to one person, which he said was fine. And so Jarrad McVeigh, we used as a sounding board,'' Ireland told 3AW.

''Jarrad was 100 per cent supportive of us going ahead with it and it is fair to say, if Jarrad hadn't given us that tick, we might not have proceeded.''

Franklin has now become a Swans player after the AFL completed an investigation into the extraordinary nine-year, $10 million deal and the Hawks required hours - and not the three days permitted - to decide not to match the phenomenal terms.

Hawthorn will receive a compensatory draft pick after its first-round pick - No.18 today - but that selection will likely move back in the draft when Collingwood receives a compensation pick for Dale Thomas' move to Carlton.

The Swans must include Franklin's contract terms in its salary cap in each of the nine years of the life of the contract and regardless of how many years Franklin plays for. So, even if Franklin were to retire after five years, the Swans must absorb in their salary cap whatever amount Franklin was due to be paid in each of those subsequent four years.

The AFL spent a week investigating the contract. The AFL demanded certain written guarantees from the Swans board and executives because of the ''unprecedented commitment of TPP (total player payments) funds to a single player over such a contract length''.

The Swans hierarchy accepted in writing that the contract terms must be included in the salary cap each year.

The AFL also warned the Swans that the controversial Cost of Living Allowance may be scrapped or reduced from 2015 onwards and that the league would review the contract situation annually to ensure that it complied with TPP.

The TPP for each club this season was $9.14 million and that is expected to rise by an average of 5 per cent a year in coming years. If the cap were to continue to increase at that rate for the duration of Franklin's contract, by the time he was in his ninth year, the salary cap per club would be about $14 million. COLA - which gives the Swans about an extra $1 million a year in their cap and is funded by the AFL - is expected to be wound down after 2014.

"We understand that nine-year contracts are rare in AFL football, but so too are players the quality of Lance Franklin,'' Ireland said.

"As a club we will always seek to improve our list and we are confident Lance will be a great fit."

Ireland suggested that there may be a cap on overall football spending, rather than just player payments, during the long term of Franklin's deal.

''(The) reality is that none of us knows what the rules are going to be going into the future. There's talk that maybe clubs might get a total salary cap for total football payments which includes your football payments and if you want to spend some more on your players you can do that and perhaps be a bit skinnier on how much you pay your coaches.''

125 comments

And queue the victorians foaming at the mouth about this.....

Commenter

Aidos

Location

somewhere

Date and time

October 08, 2013, 3:06PM

And get them some tissues. Watch now as hawks supporters say they don't want him, he's past his prime, no one player is bigger than the team.

Swans taking a massive risk with the structure of the contract, but any club could of offered this deal.

Commenter

Chris

Date and time

October 08, 2013, 3:28PM

Good riddance. Watched the replay of the Grand Final and apart from a few media sycophants who just love to say "BUDDEEEEE" or " Oh cleverrrr" the guy played like a true hack who is way past his use by date. Now we can play as a club again. We lost last years grand final to a team he now wants to play with. Go figure? Led your club on, you lied to your teammates, you lied to the fans. This deal was done LAST year and you have the nerve to say it was a "last minute" decision. Shame full............Dud Light 2.0 Now on Sale

Commenter

BBJ

Date and time

October 08, 2013, 3:38PM

@BBJ if you have any other 60 goal a year players you want to unload you know where to come.

Commenter

Sydney Premiership 6

Date and time

October 08, 2013, 4:48PM

It's worth 9 million just for the entertainment they will provide

Commenter

Melanie Jane

Date and time

October 08, 2013, 5:34PM

Sydney premiership 6 I think you have counted wrong. The $wans only have 5 premierships... When are they going to get the 6th?

Commenter

Welcome to the welfare club Buddy!

Location

Bondi

Date and time

October 08, 2013, 5:54PM

@BBJ, stop whingin you're lucky Sydney didn't take Roughead instead, out of the 2 of them one can mark overhead and kick straight and one can't, guess who? you can't blame Franklin you only get one chance in life at those bucks but you keep Roughy who I'd rather in my team anyway not as flash but more effective.

Commenter

Bushy of Cressy

Location

Cressy

Date and time

October 08, 2013, 6:29PM

Best of luck to you Buddy. We have all enjoyed some monumental football miracles during your time at the Hawks and two premierships to boot. Sydney are lucky to have you and I will undoubtedly continue to enjoy your skills and presence on the 'paddock' although it will definitely be a different feeling from now on. You are truly a star and one of a special group of players who have left the Mighty Hawks in a better place than when you first arrived. I have no doubt that you will continue to produce moments of football that amaze (a bit like that goal from the boundary line on the run against the Bombers a few years back) and when I see such moments in the future I will be sure to remind others what a great contributor you have been to HFC. So, for the nine years of enjoyment you have given to so many Hawks faithful, this proud Brown and Gold supporter wishes you well!

Commenter

Lance Franklin Appreciator!

Date and time

October 08, 2013, 10:23PM

I'll miss Buddy, but Hawthorn will continue to be a mighty club without him. I'm reconciled now to him leaving, but am still upset by the subterfuge. And I will scream if I have to read or hear any more about the `Bloods Culture'. The Swans are a strong, successful club - as are Hawthorn.

Commenter

Proud Hawk

Date and time

October 08, 2013, 11:12PM

BBJ, know how you feel mate, im the same over Dale Thomas. ! Glad the Blues have paid overs for a guy with very dicey ankle though, and whose played 8 games in two seasons. !